NEW YORK (Reuters) - Citigroup Inc's problems deepened on Monday as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.
DEARBORN, Michigan (Reuters) - Representatives from local bargaining units of the United Auto Workers union on Monday voted unanimously to endorse a tentative, four-year contract with Ford Motor Co , union officials leaving a closed-door meeting on the deal said on Monday.
NEW YORK/SAN FRANCISCO (Reuters) - Google Inc on Monday spelled out long-rumored plans to enter the mobile phone market in 2008 by building software that could help the industry make the Internet run more easily on phones.
NEW YORK (Reuters) - Stocks fell on Monday after Citigroup's warning of billions more in loan losses compounded fears that the credit crunch could get worse.
NEW YORK (Reuters) - Time Warner Inc said on Monday Chief Executive Richard Parsons will step down on January 1 and be replaced by Chief Operating Officer Jeffrey Bewkes, stoking expectations that big changes lie ahead for the world's largest media company.
NEW YORK (Reuters) - Internet conglomerate IAC/InterActiveCorp said on Monday it will spin off four of its biggest divisions, including the HSN cable shopping network, and retain 30 of its fastest-growing businesses to better capitalize on Web media and services.
CHICAGO (Reuters) - Cerberus Capital Management LP sees Chrysler LLC's new contract with United Auto Workers union as a "win-win" for both sides that would help restore the car company to profitability, Chairman John Snow said on Monday.
NEW YORK (Reuters) - The Federal Reserve should be ready to reverse two interest rate cuts if the U.S. economy escapes major damage from recent market turmoil, but recovery is a way off for housing and subprime mortgage markets, Fed officials said on Monday.
LOS ANGELES (Reuters) - Some 12,000 screenwriters went on strike against the U.S. film and television industry on Monday after the collapse of last-ditch contract negotiations aimed at preserving nearly 20 years of Hollywood labor peace.
NEW YORK (Reuters) - Growth in the service sector accelerated in October for the first time in four months, exceeding expectations, as new orders improved while prices eased, according to a report released on Monday.
